2012-09-26
2012-10-04
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under the obama administration the u.s. experienced a morbid of the infrastructure of the economy, the public sector become a manipulative force intervenes in the financial sectors with gowrn tee that attract talent and -- [inaudible] >> the worst this is the grain cast of the obama administration. and the epa now has a game control over [inaudible] has deemed a po lou assistant, danger to the environment. and co2 is the manhattan and keeps us alive. the circle of life and attempt to oppress co2 epitomizes the kind of antinature, antiimper prize spirit of the administration. it's the reason we need another supply side of the same kind we had under ronald reagan. >> would you change anything you wrote in the original "wealth and poverty." >> i would have changed quite a lot. i mean, there. all kind of detail that have changed. but i found that do try to change one thing would be to change everything. so, you know, you have in to a bunch of editorial work. instead of changing it, i essentially retained the old book and added 30,000 new words at the beginning and end. and revision of

, the bill to save the economy went down to defeat in the house of representatives. >> the legislation has failed. >> i'm very disappointed in today's vote. >> so to the democrats skprerep who vetoed this bill yesterday, i say step up to the plate. >> this is what brought us to the brink of collapse. >> wow. all because annie went and got a house he couldn't afford? >> i don't know whose fault that was. >> $1.2 trillion in market value wiped out in one day. congress quickly reconvened, and four days later, on october 3rd, it passed the $700 billion troubled asset relief program. >> congress has agreed to a broad deal that authorizes the presidential secretary to free up the criticisms. that may be the last time the president witnessed something that really mattered to washington. four years later, and on the eve of another election, he's being asked, are you better off off than they were. but how much money could you have? if washington had put aside its pride, they could work with some people. >> these two have had your back. sheila baer's job was to deal with banks. neil's job was to be

the economy went down to defeat in the house of representatives. >> the legislation has failed -- >> i'm very disappointed in today's vote. >> to the democrats and republicans who oppose this plan yesterday, i say, step up to the plate. >> investors panicked, the dow dropped 777 points. the biggest single day point loss to date. >> this is what brought us to the brink of collapse. >> wow. all because annie went and got a house that he could not afford? >> $1.2 trillion in market value wiped out in one day. it's really psychological at this point. >> congress quickly reconvened and four days later on october 3rd, it passed the $700 billion troubled asset relief program. >> congress has agreed to a broad deal that authorizes the treasury secretary to start releasing money to free up the credit systems. that may have been the last time persons witnessed bipartisan compromise on something that really mattered in washington. four years later and on the eve of another election, voters are being asked, are you better off than you were then? the answer is yes because it was that bad. but how much bet

. finish what he started. >> definitely the economy. single parent. so i am very concerned about the job growth. >> i want to vote for somebody i feel like i can trust. and i have confidence in. evening seems murky and tough to decide. undecided. completely undecided. >> i'm undecided. >> the debate will help. >> what do you care about? >> state is going in the wrong direction. get it going the other way. >> do you think colorado is a state that will do this? >> i think it will be close. >> bret: the first of three presidential debates will be held wednesday. just up the road from here at university of denver. for senior national correspondent john roberts is tonight. >> ahead of the debate. romney is shifting the focus under a withering critique from fellow republicans he is making the campaign less referendum on the president, more a choice between who has the best policies, to lead the nation in the future. >> i represent a different course. i make sure young people have great jobs tomorrow and bright and prosperous future. that is the difference between us. >> wednesday's debate will

measure of the size and strength of the economy in america. the reading of the gross domestic product shows the economy grew at a rate of 1 1/3 percent for the quarter down the previous reading of 1.7%. much of the change due to poor farm production in the midwest because of a severe drought. the dow jones industrial average broke a four-day losing streak on thursday with the best day in two weeks after fresh concerns about europe eased. the markets were down, however, on friday. consumer confidence jumped to the highest level in seven months in september. the conference board said the index rose 10% from august. the indicator is closely watched because consumer spending makes up 70% of the u.s. economy. >>> two important pieces of data for the housing mark were out. sales of new homes in august were down from july. the median price of a home rose by a record amount, 11%. pending home sales down slightly in the month of august. at least in part due to an inventory shortage. not enough homes available at the low end of the price range. >>> an apology from the apple ceo tim cook writing

mentioned. it almost sounds unbelievable. on top of the, how romney has another tax cut, costing the economy $1.70 trillion. guess what, it is $250,000 a year in additional tax cuts to the same 120 families. -- 120,000 families and anyone that makes more than $1 million. ladies and gentlemen, this has a gigantic costs. there is something called the tax policy center made up of experts. this is a bipartisan group of experts. they did an analysis like they do all of the tax proposals. they point out that if romney ryan were elected, it would increase taxes by middle-class families by $2,000 a year. we have seen this before. letting banks write their own rules. massive tax cuts for the very wealthy,we know how it ended. it ended in the catastrophe of the middle class. and the great recession of 2008. ladies and gentlemen, i am telling you today, we will not go back to that. [cheers and applause] we cannot go back to that policy. america cannot afford to go back to that policy. the present and i have a different way forward. let me tell you what our plan is. in addition,we have created over 5 mi

will be divided in to six 15-minute segments. allotted to topics related to the economy, healthcare and government. tens of millions of americans will be watching. according to the polls, most have already made up their minds. one recent poll says 7% of likely voters are still undecided. they will be the primary targets tonight. as the neigh watches. chief white house correspondent ed henry begins our coverage. >> in the run township the clash that will help decide whether he gets another four years, president obama stayed mum. leaving the heavy lifting yet again today to former president bill clinton in new hampshire, who made the case this is a choice about the next four years. >> the economy is not fixed. i am telling you, nobody can fix this much damage in four years. but the president's economic plan is better in the short run, better in the long run. >> reporter: the president made the opposite case in 2009. vowing to get the economy fixed in three years or this would be in his words a one-term proposition. which is why senator marco rubio told fox he believes the president will be vulnerabl

've been saying, will be held wednesday. it will focus on domestic,such as the economy, health care, and governing. so we've assembled a panel of distinguish americans, i would say, to talk about the state of country and where they think america is today. mark zandi is with the moody analytics. he has a new book out called, "paying the price, ending the great recession and building a new american century." michelle rhee is the head of students first, an organization that hopes to reform public education. she, of course, is the former head ofure d.c. schools. former speaker newt gingrich is rejoining us. he does not have a new book out, but his wife calista, does have a new book out, a children's book that will be coming out tomorrow. bob woodward, an associate editor of the "washington post" is the author of "the price of politics" he's written more books than this entire table combined. well, maybe not when you put newt gingrich in there. and pulitzer prize-winning author hendrick smith who has a new book called, "who stole the american dream?" all you people are here to sell books

it was formed. and while the european economy has stalled, countries like indonesia, malaysia, india and china continue to grow, and at a phenomenal rate. the potential consequences of this shift in power, should we in the west fail to respond, cannot be overstated. our influence in the world, our standard of living, our ability to fund our public services and maintain our culture of openness and tolerance -- all are in the balance. for power would move not only away from the liberal and democratic world, but within it too, from moderates to hard liners, from internationalists to isolationists, from those committed to the politics of cooperation to those hell-bent on confrontation. if history has taught us anything, it is that extremists thrive in tough times. so yes, if we fail to deal with our debts and tackle the weaknesses in our economy, our country will pay a heavy political price. but the human cost would be higher still. not only would we fall behind internationally, we would leave a trail of victims at home too. so to those who ask, incredulously, what we -- the liberal democrats -- a

this as a referendum on t u.s. economy? how did they see the campaign? >> it is a d difference in lanon anand the arab worldld. y of looooking at it dferently for the election. they are very interested. theyey follow every candididate. whatat you will say abo the foreign policicy. thisis isery important. we k know for the american p people, the voters, the main isss the e economy. and d we remember the famous rase from bill clinton -- it isis the ecoconomy, stupid. [lauaughter] so, fofor us, what is important for us is the foreign policy. because the relation between the united states and ththe ararab world, the m main issue, the conflict b between israel and the palestinians.. they wouldovee to know the future of the relation between the united states and the arab world. >> pritchett -- president o oba decided to skip the bilateral meetings that he usually holds. he went on "the view" which is a domemestic talk-ow and campaign stops t did not meet with any foforeign leaders during the general assembly. how was that ken overseas, or at least the lebanese perspective? not t that the hit -- that he did

the ambassador, died. his chief advisor is say it is still all about the economy. they are concerned, but not that concerned, as opposed to jobs or something like that. every day he is talking about foreign affairs is a day they are not talking about the economy. there is a real divide about what romney should do. >> we should point out the economy will be the topic at this debate, at least it will be domestic policy, for the most part. do we expect -- to mention romney might come out with more specifics. he spent four minutes on his specific plans for the economy during his speech. what do we expect this time around? >> we expect him to lay out more detail in this format, although whether it allows itself to an in-depth policy discussion is another matter. he is under a lot of pressure, especially under -- from conservative pundits, to put more meat on the bone and say what he would do differently on issues ranging from the economy to foreign affairs to everything else did you president obama -- he has a sunset of challenges going into the debate? >> -- his own set of challenges goi

is expected to attack the president on economy, and foreign policy and so far we have not seen what he will do for a second term. so, what do you anticipate the president will have to do, jehmu, in order to get ahead of this foreign policy gap that's going on right now in the wake of the death of four great americans. i don't know, kelly, i disagree with you. we haven't seen from president obama what his next four years would be, we have not seen anything from governor romney on what his business-- his presidency would look like, all he's done is attack the-- >> during the debate. >> what he will do during the debate i think is remind the american people of his record on counterterrorism, and that is not something that governor romney is going to be able to poke any holes in, and i think he will also remind the american people of when it comes to the economy, that it's the turn around is going to take time. >> oh. >> and you've seen president clinton talk about why it took eight years to get us surpluses and i think it will be finally clear, because, unfortunately. >> jehmu. >> the media has f

, we are here for the big debate looking at all sides of it on a day we doled that the economy will be front and center. also, on a day we got two extreme sets of numbers on the economy the one painting a pretty good picture, the other not so promising. but an issue we are told mitt romney wants to bring present and center tonight is the debt. how much we as a country owe. at $16 trillion, plus, remember, it was republicans would made that debt clock a big deal. they want to make a big deal of it tonight. they are saying it strangles america's ability to get a handle on finances and your very future. a lot of parents are less optimistic for their kids obtaining anything approaching the success they had. if that is true it would be a generational first and something we will hear spun in the spin room which we are broadcasting. this is one of the fascinating developments about a debate. this is the place where both the head of the the -- ahead of the debate and after the debate, each side tries to sell their story. one side saying, withheld your expectation and the other side say

as the candidates drill down on the economy. >> you think if we spend another $5 trillion on tax cuts for the wealthiest americans, all our problems are going to go away? >> his plan is the spluss, how did the first one go. how much of it did you get? it was cash for clunkers. did you get help from that? gwen: and duke it on foreign policy. >> i'm pretty certain there will be bumps in the road because in a lot of these places, the one organizing brell has been islam. >> he said the developments in the middle east are bumps in the road. [laughter] >> yeah, that was my reaction. bumps in the road? these are not bumps in the road. these are human lives. gwen: the candidates, the polls, the issues, the voters, we are in the heartland tonight. covering the week, charles babington of the associated press, nia-malika henderson of the "washington post." jim tankersley of "national journal" and jeff delaney of the "new york times." >> this is a special election 2012 edition of "washington week with gwen ifill and national journal". public funding for "washington week" in st. louis" is provided

taxes on the middle-class. we have made changes here in the state of nebraska that grows this economy. that is why i am running for the united states senate. they want a change of leadership in washington. we have a senate in washington that hasn't passed a budget, let alone a balanced budget. we can change that. that is why i am running for the united states senate. i want to pass a balanced budget. i'm not your usual politician. obviously i am not one of the good ole boys, and i will make the tough decisions in the united states senate. we'll roll up my sleeves and work hard for you, and i will fight for you. i will fight for all people. thank you. >> thank you. now the opening statement from former nebraska governor and senator bob kerrey. >> i love nebraska. i was born here in lincoln. i went to lincoln northeast high school. i left nebraska, went to war and came home. i recovered from my injuries here in lincoln. i started a business that today employs more than 700 people. i have served you as your governor. we balanced the budget and the economy recovered. i served as a senator

's a point you made earlier in an earlier segment that the bottom line is the economy is still very, very weak. i'll tell you, we've been on overweight equities for the last six or nine months. we're now starting to pull back some of the risk. yes, the market could rally higher. i don't see the stimulus up as much as i did when everybody didn't believe qe-3 was coming. i think there's more negative potential headlines. we're taking risk off the table right now and hopefully we'll re-enter at a lower position. >> it's interesting. rickntelli, the fiscal cliff keeps coming up. that's one of the biggest issues in terms of keeping businesses from making any real decisions here, putting money to work, and it's also the highlight going into the election. >> it is. i guess the real irony is even if the fiscal cliff didn't exist, the outlook economically, both domestically and globally, is deteriorating. really, it's a bit of a double whammy. i'll go back to what i said the last time we discussed this an hour ago. if you look at the 21 weeks from mid-october to march of 2000 when the nasdaq crash

with voter attitudes towards the economy, less so than voter attitudes toward president obama or mitt romney. in many ways, voters have gotten used to the idea of a poor economy, even a lackluster one. and they've kind of gotten used to it. a quarter of the people who said the country was headed in the wrong track are still supporting the president. so they've basically gotten used to the economy as the status quo. >> today in his weekly web address, lynn, the president blaming congress for not helping the economy. take a listen. >> last week, mortgage rates were at historic lows. but instead of helping more and more hard-working families take advantage of those rates, congress was away on break. instead of worrying about you, they'd already gone home to worry about their campaigns. >> lynn, is that a strategy that works? i mean, is there something to what he's arguing, regarding low mortgage rates and housing reform? >> well, he's doing, i believe, a preemptive strike in advance of the debate, where the focus is going to be on domestic issues and the economy. now, what he said is true. ever

is behind because americans probably feel better than they did before jobs and the economy even though it's terrible. it's sort of the -- >> right track, wrong track? that's interesting. tell me. just stretch that out a little bit. >> i think americans see a glimmer of hope. there is slight improvement in the economy, and i think that some people, for example, a state like ohio, battleground state, thanks in my view to the governor that the unemployment is down. that's true in some of the others. i understand how tough this campaign is. i do believe that media coverage has something to do with it. but that is what it is. i think most americans will still be making up their minds after the debates and maybe right up to election day. >> let me turn attention to overseas, i know there are some things that concern you. but let mee first ask you about libya, the deaths of those four americans, including the american ambassador to libya on september 11th. friday we got the administration sort of definitive statement this looks as though it was a preplanned attack by a terrorist group and some o

and virginia and different states, what i hear from women is they want jobs in the economy is issue number one. they want specifics. thiept ton what is going to be done to repeal, replace obamacare. make that workable. they're looking for detail. and i think a lot of the undecides are there and that female vote is very soft. and larry i think you're seeing that in your polling, too. it's very movable and as we get into the debatees, as people react-- women are appalled with what happened in libya. and i think they're looking for some accountability. they want to see a serious-- >> schieffer: what you're saying is mitt romney is not specific enough. he needs to give us some more details on what he plans to do. >> i think you're going to see that come forward in the debates and over the next couple of weeks, and he has started to roll out some of the specifics and that's what women are wanting to see. >> schieffer: bob shrum, you were an adviser to john kerry. you were an adviser way back when ted kennedy, i guess, debated mitt romney in that now-famous senate race of long ago. what would you be

, as the presidential candidates focus on the economy, what do the mixed signals mean? we get perspective from two economists. >> woodruff: then, we go on board navy ships in the persian gulf to watch a massive military exercise aimed at securing the strait of hormuz. >> we need to be prepared to deal with mines go in the water. this exercise is focused on the mine trip and demonstrating our able to clear mines. we have to be able to do that. >> suarez: the chinese communist party ousts a once-powerful politician and prepares to unveil its new leadership. margaret warner has our update. >> woodruff: mark shields and david brooks analyze the weeks news. >> suarez: and from our "american graduate" series, we take an encore look at the story of an eighth grader who turns to journalism to tackle violence in his middle school. >> if i didn't have a-- i would probably be let up with the wrong people and doing the wrong stuff. >> woodruff: that's all ahead on tonight's newshour. >> major funding for the pbs newshour has been provided by: >> bnsf and carnegie corporation. >> and with the ongoing support o

to do something like this? >> i think it would be a reference back. because the economy takes all the oxygen out of the election with a little bit of foreign affairs, the supreme court does not play against undecided voters. it is a motivator to get out and get to the polls. you want this person to replace justice ginsberg when she retires for example. you want to know if there's any practical experience, and the obama at the lustration has declined to defend the defense of marriage act. present romney might decide he would defend the constitutionality of that statute. it does seem like that has a lot of salience and presidential debates. i.t. think it will not happen. here is why. no major national political figure has attacked as publicly since 1996 or before. it is remarkable. the republicans were seeing some political profit in attacking affirmative action given the polls. they do not do it anymore. john kerry said maybe it is time to stop these racial preferences. the democratic leadership council was inching down that road. that is all gone. this is why we get so demonized i

scheduled debates. the topic tonight in denver domestic affairs including the economy, health care reform and imgrmigration and the clock is ticking. the election is less than five weeks away and the stakes are high. susan mcginnis is in washington. >> reporter: first debates get the most attention of all of them and the first 30 minutes are said to be the most important. president obama needs to hold on to the momentum he's built. mitt romney needs to turn the entire race around with tens of millions of people watching tonight. the stage is built. the cameras are in place. and the candidates are in their final hours of preparation. mitt romney took a break from his rehearsal to grab a burrito bowl at chipotle. president obama visited hoover dam. when we arrive at the university of denver tonight they will face questions about the economy. there will be six segments 15 minutes each and the first three are devoted entirely to the economy. >> i want to repeal obama care and replace it with something that will get the costs under control. >> reporter: how romney will replace the president's

passed on to our kids. it's not just bad for the economy. it's not just bad for our job creation. it will in my opinion, it's immoral for to us pass on obligations like that to the next generation. >> romney'sry reserting the economic attack on the president as a new study shows median household income fell 1.1% in august to just over $50,000 a year. since june 2009, household income fell $5.7% and they are down 8% since obama took office. romney's blunt assessment is everyone will share in the sacrifice to fix the mess and get people back to work. >> don't expect a huge cut in taxes, i'm also going to lower deductions and exemptions. but by bringing rates down, we will be able to let small businesses keep more of their money so they can hire more people. >> romney's latest ad is just him, framing the choice. >> big government dependency, versus personal responsibility and liberty. >> we shouldn't measure compassion by how many people are on welfare. measure compassion by how many people are able to get off welfare and get a good paying job. >> reporter: that in effect is romney

on persuading voters they can boost the economy. but a key question at the heart of it all-- is the economy slowing, stalling, or perhaps even gaining strength in some ways? new data are sending conflicting signs. republican presidential nominee mitt romney campaigned today at a military academy in pennsylvania. romney promised better jobs for young people like the cadets sitting behind him and a better future for the entire country. >> we're in a very different road than what i think the people of the world expected from the united states of america. and if i'm elected president of this country, i will get us back on a road of growth and prosperity and strength. >> woodruff: today at a campaign event in washington, president obama shared a message of what he called "economic patriotism" tied to a strong middle class. >> but our problems can be solved, our challenges can be met. we've still got the workers in the world, the best universities, the best scientists, the best... we got the best stuff. ( laughter ) we just got to bring it together. >> woodruff: consumer confidence is higher of l

the president has put forward have caused the economy to continue to go down. folks believe the economy is bad right now but what they don't actually believe is it is the president's fault. he has to make that case in the debate with the president standing on the stage with him that the president is the one to blame for the economy we've got right now. >> there is something going on. if he acts too much on the attack, it will look like he is showing disrespect to the president but if he doesn't, then he looks defer yen shl. coach me, tell me how to walk on that stage -- deferential. coach me without being deferential? >> it's a matter of tone and how you address the president. as long as governor romney addresses the president with mr. president, your policies have failed the american people. i think as long as he carries a respectful tone. he needs to be what i would say as passionately aggressive. he is respectful of the president yet he is passionate about making the case it's the president's policies that have failed americans and caused economy to be worse than what it was when he took of

views on the global economy and perhaps you could start with europe and make your way around the world and perspective on what you see in terms of growth and perhaps more importantly you know, what are the challenges that we are going to have to deal with over the next period of time? >> there's not enough time for all the challenges but let me give you some perspective. let me get to -- let me give away the punchline. the punchline is i think in a world races, the world is not going to come to coming to an end. we are going to muddle through but there are a lot of challenges and a lot of risks that i think the largest outcome come the largest for signage likely outcome by far is that we get through it and a lot of action were to be taken to offer some relief but there are several things that could cause things to derail in which case it would be a lot tougher for a lot longer. but you asked about europe. i think the biggest problem that europe has is growth and the risk problem is the go off the rail, bus stop of the euro. a few months ago we would have said that the two big issues fo

: and sit down for an exclusive interview in which we discuss the economy, the new focus on national security. and, growing criticism of the romney campaign. paul ryan, only on fox news sunday. then... we'll preview wednesday's first obama-romney debate. we'll ask our sunday panel which each candidate needs to do to win the first first off. and our power player of the week, has spent almost half of his life, telling the inside story of how a president rose and fell from power. all, right now, on fox news. ♪ >> chris: and hello again, from fox news in washington. with just five weeks until election day, a new poll showing president obama leading in key swing states, the presidential debates may be mitt romney's last, best chance to turn the race around and we wanted to find out what the romney-ryan plan is when they face off against obama and biden. we caught up with running mate paul ryan, saturday in derry, new hampshire. before we sat down for an exclusive interview, we spoke briefly as he was about to take the stage for a campaign town hall. >> chris: what do you think? just bef

influential figures in the nation on the economy join us here on cnbc. >> we've got representative and hopeful ron paul with us. texas, from texas. he is of course outspoken about the federal reserve policies. robert reich is here with us tonight. also with us grover norquist. the man behind the no new taxes pledge so many republicans made. and bob lutz a former top auto executive. the auto bailout expected to be a big topic tonight. and we've got president of the aflcio. unions of course a major constituency. and roger altman. as you can see the lineup card is full. going to be great. >> absolutely. meantime our chief washington correspondent john harwood has made the trip to denver. what are you watching first tonight? >> what i'm watching for is how mitt romney takes advantage of this huge opportunity that he's got with tens of millions of americans watching these two side by side. he's behind in the polls, but not by an overwhelming margin. three points in our nbc/wall street journal poll. i talked to devine who was the campaign strategist for al gore. when gore lost the election, in the d

the real economy is very important to us. in missouri we have a strong industrial rail process where you have a lot of goods across our state. we have work to improve the system, get rid of bottlenecks. for example, the osage river where we are now in the process of building a bridge that we can get another land we don't have slowdowns. the first step is to make sure we don't get slowdowns so when we look to more possibilities for passenger rail travel, that we have a system to deliver on time. so we're looking at that. we've also worked with illinois because anybody that looks at the bigger picture of our country will see getting the first step from chicago to st. louis is never going to attract the resources for high-speed rail across their state. that's why we worked with the state of the one i and others to get the initial project completed, while at the same time working to improve our network here for on-time efforts. you know, all of that is part of a long-term transportation focus that will continue to provide us a competitive economy. >> dave spence. >> i think it sounds great i

. it is crippling the iranian economy but it hasn't stopped them from getting nuclear weapons. we both agree that is the ultimate goal. the united states has wanted to bring them to the negotiating table. that has not happened, either. the israelis are almost feeling as though both the mentality and the course of actions that the u.s. has taken and the west in general have been naive. >>shepard: factoring in is the fact that so many analysts with great experience and knowledge of the situation here are of the belief that you cannot stop this by bombing. it will take something else. >>reporter: right. that's tech did you want to look at that exact point look at the people of iran and what they are saying. right before mahmoud ahmadinejad got on a plane to come to the u.n. meeting, the people of iran, and i have been on so many blogs and twitter and facebook, where are we going? we have so many problems at home to address. you do not need to go to the u.n. and talk about world problems and reforming of the global community as has been repeated on interviews and the at podium at the u.n. there

the president is leading look at this number, economic optimism. 57% now believe the economy is recovering. that number is up six points in just the past few weekz. ultimately this race will be won in nine battleground states. florida, virginia, and ohio romney is tight in the races with the states of fluidity, florida and virginia. in florida obama and romney are neck and neck. virginia romney has narrowed the lead from 5 to 2. another statistical tie. in ohio the president has improved his standing. he leads romney there by eight points. and for those wondering about the party idea the sample is less democratic in ohio this time than the last poll. digging deeper into our numbers we divided thet battleground states by three measures. president's job rating. romney's favorability rating that number is still under water he has problems and the question of which candidate is better equipped to manage the economy. remember the unemployment rate is 5.9% in virginia. romney's favorable in florida but under in virginia and ohio. when it comes to who is better able to manage the economy a questi

patriotism together, we can rebuild this economy together. we will grow the middle class together. we will move forward together. >> eliot: not surprisingly, the same themes play a prominent role in a two-minute long ad the obama campaign is playing in seven swing states including ohio and virginia. >> obama: it's time for a new economic patriotism. rooted in the belief that growing our economy begins with a strong, thriving middle class. compare my plan to governor romney's and decide for yourself. >> eliot: to help voters make the decision, the obama campaign also put out another ad today putting pictures of real people over mitt romney's notorious comments to wealthy donors about americans who don't pay income tax. >> 47% of the people -- who are dependent on government. who believe they're victims. who believe government has responsibility to care for them. who believe they're entitled to healthcare and food, to housing, to you name it. >> eliot: while mitt romney and his super pac allies have raised more money than

oversight council headed by the us treasury said it is preparing to act to protect the economy. >> if investors get any sense that there might be a failure, they'll all race for the exit. and that's the equivalent of a run on the bank and there is no one there-- no one like a parent with capital or the fdic to supply capital if there's that kind of race for the et. >> reporter: three options are on the table. instead of a fixed value of $1, money market funds could be required to use a floating value. regulators are also considering whether money market fund companies should hold some of their assets as a buffer against a surge in withdrawals or whether to require investors to wait before they can get back a portion of their money. the s.e.c. could try again to pass new rules, but if it doesn't, the stability council could decide some big money market funds need closer regulation. that idea worries fund companies. >> it would result in significantly more costs and regulation and who would want to invest in a fund that the federal government has designated as systemically import

if you stop an economy growing, it will be of more out of work claiming benefits, not paying taxes. businesses struggles that they are not paying taxes. and as a result, borrowing goes out. our income not to invest in schools and transport and education, but are we to keep people idle so the next time you hear a conservative say to you, labor would increase borrowing. just remember it is this government that is increasing borrowing this year. [applause] so what have we seen? we have seen recessions, higher unemployment, higher borrowing. i don't think that is what people were promised. there will be some people who say, and this is an important argument. it will be some people who say they were short-term pain, but it is worth it for the long term gain. and i'm afraid the opposite is true. the longer you have low growth in the country, the baker to debt comes to the future and the bigger problems will be in the future. the longer a young person is out of work, that's not just bad for the prospects now. it is bad for their prospects for the whole of the rest of their lives. and it's

are concerned that a tax increase of that size could shock the economy and trigger a recession by reducing the cash that taxpayers have to spend. but scott, congress and the president now have a firm price tag on what it costs if they don't reach a budget deal after the election. >> pelley: wyatt, thank you, the u.s. economy is also being hurt by what's happening far beyond washington, all the way across the atlantic. senior business correspondent anthony mason has more on that. >> reporter: in spain this weekend, police clashed with protesters angry over austerity measures the government's been forced to implement. a quarter of the work force in spain can't find jobs and the unemployment rate in the 17-nation euro zone has now hit a record high-- 11.4%. for three straight quarters, the european economy has been shrinking and federal reserve chairman ben bernanke said today america is feeling the impact. >> it has been a problem for the u.s. economy. we have seen head winds coming from slowing trade. >> reporter: if you combine imports and exports, the european union is our biggest trading

of the three states, north carolina and nevada, both think that mitt romney is stronger on the economy. so that's one set of polls. now, we've got this other set of polls we want to show you very quickly, and this is from rasmussen, and he does -- scott rasmussen's group, rasmussenreports.com, they do a daily tracking poll. for a long time now, they've been showing this race as even. right now, they're saying -- and this gets updated daily, about 9:30 in the morning -- and they president obama and mitt romney both at 46% nationwide. and when leaners are included, it's tied at 48% apiece. and the swing state daily tracking poll, they also have this, and they have that tied as well, obama 46%, romney 46%. again, this is from rasmussenreports.com. scott is a republican in colorado springs. hi, scott. caller: how you doing? host: good. what do you think about the campaign media coverage so far? caller: it's a joke. i flip through the channels, and they are totally biased. the thing that really gets me is you have romney going on, the different outlets, but yet obama, he's going on "the view" and da

on the economy. the economy gets the first half of the debate, with questions 1, two, and 3. then they move on to the topic of health care, which has major economic impact, the role of government in our society, and the final segment will be on the governing cells of the candidates. jim lehrer can assign the final questions. there was a coin toss to decide who would take the first question. president obama has won that and will take the first question. we would like to involve you in the process and talk about this important debate, what you will be looking for from candidates, whether or not you have already made your decision. most particularly, if you had a chance to ask a question on this domestic policy debate, what would you most want to know from these two men? let's introduce you to our first guest. from inside the debate are -- the senior political reporter for yahoo news, who has been on the campaign trail with governor romney. >let me start with a pc filed recently, is senseless and that this is all personal between these two men -- saying this is all personal between these two m

has been participating, provided a substitute economy and afghanistan to start up allow me to develop so far. is that the incentive? is there some economic incentive that brings them into this process? is it that that's going to solve the problem is it's not constitutional matters in human rights and everything clicks >> we need to start reducing the amount of money these then on afghanistan. >> howell to be sustainable within itself? >> the economic process is one where we have to keep helping the afghans fun the development for 10 years beyond what they get on with developing the mineral resources. at the same time, trying to execute a political process to reduce the pressure in the security forces and wouldn't have to be so proficient if there is a political process. you have to work on all these things at once. i've always said we must make our strategy dependent on the political deal with the taliban because that gives them a veto. you have to be a policy that says, here's the strategy that is not dependent on the taliban. the taliban to stop inciting and get an engaged the proce

geo politics has upped the price, but now the slowing economy is questioning how long traders can hold on to those premiums. you can't outrun economic fundamentals no matter how much you print. >> what do you think about that, bill? even though corporate america looks strong, looks like the earnings estimates need to come down. >> i think the summer of dal droms are about over. going forward, the thing that might be the big spark that changes the psychology and the ball game is the election. i don't believe all the polls. we'll see what happens. if we're right that there's a seat change and some fellas join the unemployment line deservedly, then you might see money be put to work. this fiscal cliff and all the other nasties we hear about are not going to be permanent dampeners on the economy. i think you have to look forward and anticipate what's next. >> is it the same scenario -- >> that one i disagree on. >> okay. bill, are you looking at different scenarios if the president wins re-election versus a romney win? how are you playing that? >> well, number one, i don't think anybody's

to average americans, the economy. let's run this through the spin cycle. i think this is a double-edge sword. on the one hand, this election is about the economy. and regardless of how tempting foreign policy is right now, come election day, voters care most about the economy. that's true i think every year. we know this from 2004. which was supposed to be an election on foreign policy and still exit polls showed most voters cared about the economy. so i think the advisors who want him to stay on message about the economy are right. however, the other side to this, and i guess i'm arguing two points here, the other side to this is, there are areas to exploit. obama's foreign policy has been whitewashed by his defenders and i think there are people on the right in the middle and honest people on the left who would be outraged to hear a little bit more about obama's failed promises. the problem mitt romney is going to have, he has to come at foreign policy from the left and right. that's tricky. from the right, he needs to talk about obama's policy of open hands versus clenched fists, have see

the current state of the election and plenty of people are concerned about the trends and the same economy in these times. most important of them who are the people who will show up to the polls in november. we want to have a follow-up discussion about economics, demographics, and the expectations for 2012. this is a follow-up for what was released in november of last year. with that, i am pleased to introduce my colleagues. the co-authors of the report they are releasing at www.american progress.org. after this presentation, you have a conversation with our panel and we look forward to hearing from you as well. i encourage you to follow the conversation. our guests recent writings include the european paradox and the decline of the working class and the rise of the mass upper-middle-class. he holds a degree in sociology from university of wisconsin, madison. i say about the game yesterday. [laughter] please welcome rich. [applause] >> thank you, everybody for coming. as daniella mentioned, this is about the report to be released last november. there is obviously a you -- adding about ideo

output at a plant as the economy slows and demand weakens. meantime 40% of china's iron ore mines are standing idle as steel prices have crumbled. and loans to firms and households fell more than expected. ecb staying loans to the private sector fell 0.6% from the same month a year ago. italy's borrowing costs falling at a bond auction today. analysts say the auction shows nand for italian government paper remains healthy. and eu regulators are prepare to go charge microsoft for failing to comply with a 2009 ruling. that ruling had on ordered the company to offer user as choice of web browsers. apparently they may not have done that. if guilty, microsoft could face fines of up to 10% of its global revenues. and that would be a lot of money. >> iran still, we're this close to nuclear -- think our unfunded labels are like 60 trillion or something. europe back in the crapper, but the refs. huh? >> i told you, i don't always like unions. i'm actually happy that the refs union won. >> it does provide a release from some of the travails and the worries of every day life. spoorts is spor

: steve, on the economy specifically, a majority of voters disapprove of the handling of the economy by the president. take a look at this. almost 60% think his economic policies have actually hurt the economy or made no difference at all and that of course is by far the number one issue yet 50% say he deserves to be reelected. do you think, steve, people believe the bill clinton argument that nobody, no president, could have actually solved this in four years? >> yeah, i do think that had some effect. there is no question that president obama came out of the conventions with a little bit of momentum. you talk, it is not only showing up in the public polling that we're talking about here today but talk to republican pollsters polling on senate and house races and they will talk about what they call the clinton bump. they have seen it across polling in various parts of the country that voters who are asked a question is the country on the right track, is the country on the wrong track, which most pollsters believe the single best determiner ho will win in november, there was a jump in

out enough in debt, and enough taxes we have made changes that grows this economy, and that is why i am running for the united states senate. to change the want leadership in washington. we can change that. that is why i am running for the senate. i want to pass a balanced budget. i am not your usual politician. i'm not one of the good old boys pay ed i will make this tough decisions in the united states senate. i will roll up my sleeves, work hard for you, and i will fight for you. >> now the opening statement from bob kerrey. >> thank you. i love nebraska. i always have and i always will. i was born here in lincoln. i left nebraska and went to war and came home, and i recovered from illness in the lincoln. i started a business that employed more than 700 people. i served as your governor, balancing our budget, and i left after four years and went back to business. i served as your son that -- as your senator, and again we balance our budget. i am a candidate for congress for the senate because congress needs to change, and i will fight to make that happen. i have never had and neve

the stagnation we've had. i mean, the economy is limping along nationally. we got 23 million people struggling to find work. 15% of americans today are living in poverty. president obama came in with one party rule, and was able to pass nearly every item on his agenda. what we ♪ you do ♪ something to me ♪ that nobody else could do i knew it'd be tough on our retirement savings, especially in this economy. but with three kids, being home more really helped. man: so we went to fidelity. we talked about where we were and what we could do. we changed our plan and did something about our economy. now we know where to go for help if things change again. call or come in today to take control of your personal economy. get free one-on-one help from america's retirement leader. oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we'

in discretionary spending cuts drives the economy back in recession and cost 2 million jobs. on the other hand, it also goes a long way in reducing the budget deficit. even by washington standards, that all seems important. to discuss the cliff and the consequences, we have a panel of four budget watchers. bob greenstein is head of the president obama's transition policy work. doug holz-eakin, president of the action forum, headed the staff, directer of the congressional budget office. he was a member of the president bush's economic adviser and was an acting directer of cbo. finally, diane lim rogers blog z as economist mom and was chief economist for the house committee and the ways and means committee. our format today will be relatively straightforward. each speaks for five minutes, and i'll ask questions, we'll l get a discussion going here and turn it over to the audience to give you a chance to ask the questions. we've people watching on c-span and the web, and if you're not in the room, send them to publicaffairs@urban.org, and those questions will come to me. to start, donald? >> than

of the debate tomorrow night beginning at 9:00 eastern time. we got good news today on the economy. overall, auto sales were up 13% last month from a year before. among the u.s. automakers, ford sales were unchanged, g.m.'s were up 1.5%, chrysler reported a 12% increase. there hasn't been enough good news like that on the economy. the recovery, of course, is painfully slow and one of the biggest reasons is the recession in europe. the 27 countries of the european union add up to the world's-largest economy, but they're reporting record unemployment. in spain, unemployment among young people is 50%. mark phillips went to bars low that to see what happens when an economy goes into freefall. >> reporter: spain can be a deceptive place. in the early autumn sunshine and in the markets groaning with foodstuffs it's difficult to tell this is a country with a collapsing economy and unemployment rate of 25% that threatens to take the rest of europe and maybe even the united states economy down with it. but wait until they close up at barcelona's boqueria market and follow the porters out back to whe

. on tonight's "newshour." major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: israel's prime minister warned again today that iran is well on its way to creating a nuclear weapon and said the world needs to act. benjamin netanyahu spoke at the united nations. as he has often before, netanyahu condemned iran and its nuclear program, and called on other leaders to do the same. >> at stake is not merely the future of my country. at stake is the future of the world. and nothing could imperil our common future more than the arming of iran with nuclear weapons. >> woodruff: the israeli prime minister said the hour is, quote, "getting late

of the economy, and if that stops jobs are going to stop, too and so is everything else. >> larry, i think those are very good points. i would argue most of the weakness we are seeing in the manufacturing side is a function of much weaker export s because of weakness in europe and asia. i think what we are seeing in the latest chicago data is a catchup with all the other weakness we had seen in earlier surveys. i think the economy is weak. it's not strong by any means but the labor market looks like it is growing. i don't think it will rollover from modest job growth. claims are ploe low and tax receipts are improving. >> 1 30i7b 3% depend we got earlier this weak. a lot of people would call ate growth recession. i want to ask is this stall-speed or an actual recession? >> i think we have slowed since the 1.3% second quarter number larry. we are seeing durable goods orders down in july and august. we are seeing the pmi is down. importantly, europe is moving in to a recession. germany is now in recession and china is not doing its stimulus. you have a coordinated global slow down starts now and i

now, we see an economy which is expanding. we see employment which is one of the key indicators of recession, still growing. so we expect the economy to continue to grow. that's our best forecast as of now. so we're not expecting a recession. that being said, with an economy growing only sort of 1.5% to 2%, that is not fast enough to lower the unemployment rate. that is my concern. >> all right. we have reaction now to that. and today's big gains in our "closing bell" exchange, plus we're talking strategies for the coming quarter. a quarter that has historically been good for the bulls. with us today, todd of black bay grou group. paul shots of heritage market. and our own rick santelli. paul, i'm going to start with you because you make a bold statement. you feel right now ben bernanke is irrelevant. what do you mean in. >> bill, i think the fed's done the most part, they've laid all their cards on the table. if you're playing poker, they're all in. it's qe unlimited. if $40 billion is not enough, they'll go to $50 billion, $60 billion, $100 billion. each qe has had less of an

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